Authorities are trying to borrow money in Singapore and Hong Kong

He added meetings are now taking place in Singapore and Hong Kong, without elaborating.

Belarus is looking at $500-600 million Eurobond issue, which might be placed early next year to refinance debt falling due in 2013.

Belarus was forced to devalue its currency, the Belarussian rouble, by 65 percent last year to deal with a large current account deficit caused by public spending before the presidential elections in 2010.

It had issued $1.8 billion in Eurobonds shortly before the currency crisis, but has not tapped the market since early 2011.